Greenlight Capital, an investment management firm, released its first-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Partnerships have returned 8.2% in the first quarter net of fees and expenses, compared to -4.3% for the S&P 500 index. The fund returned 1.3% in the long portfolio on a gross basis, made 5.8% in the short portfolio, and made 5.3% in macro. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its first-quarter 2025 investor letter, Greenlight Capital highlighted stocks such as Core Natural Resources, Inc. (NYSE:CNR). Core Natural Resources, Inc. (NYSE:CNR) was formed by merging Arch Resources and CONSOL Energy in January 2025. Core Natural Resources, Inc. (NYSE:CNR) is a US-based company involved in the production, distribution, and export of metallurgical and thermal coals. The one-month return of Core Natural Resources, Inc. (NYSE:CNR) was -4.25%, and its shares lost 12.72% of their value over the last 52 weeks. On April 24, 2025, Core Natural Resources, Inc. (NYSE:CNR) stock closed at $75.19 per share with a market capitalization of $4.019 billion.
Greenlight Capital stated the following regarding Core Natural Resources, Inc. (NYSE:CNR) in its Q1 2025 investor letter:
“The biggest long detractor was Core Natural Resources, Inc. (NYSE:CNR), which declined 27.6% during the quarter. CNR was formerly CONSOL Energy (CEIX). It completed its merger with Arch Resources in January. The combined and renamed company has suffered from falling coal prices in 2025 and reduced production due to a fire in one of its mines. There is also a risk that the escalating trade war could harm CNR’s exports. However, the combined company has a conservative balance sheet and has the capacity to repurchase a lot of stock this year. It is also likely to benefit from President Trump’s executive orders supporting the coal industry.”
A large coal mining complex on a sunny day, with heavy machinery moving vast amounts of earth.
Core Natural Resources, Inc. (NYSE:CNR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Core Natural Resources, Inc. (NYSE:CNR) at the end of the fourth quarter compared to 31 in the third quarter. While we acknowledge the potential of Core Natural Resources, Inc. (NYSE:CNR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we covered Core Natural Resources, Inc. (NYSE:CNR) and shared Black Bear Value Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.